In selecting an accounting method for a newly contracted long-term construction project, under private entity GAAPthe principal factor to be considered should be

Group of answer choices

• the terms of payment in the contract.
• the method commonly used by the contractor to account for other long-term construction contracts.
• the inherent nature of the contractor's technical facilities used in construction.
• the degree to which a reliable estimate of the costs to complete and extent of progress toward completion is practicable.

Answer rating: 100% (QA)

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